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KCM
Knighthead Capital Management Portfolio holdings
AUM
$1.52B
1-Year Est. Return
19.8%
This Fund
S&P 500
This Quarter
Est. Return
-7.82%
1 Year Est. Return
+19.8%
3 Year Est. Return
-51.34%
5 Year Est. Return
-74.51%
10 Year Est. Return
-80.74%
AUM
$1.66B
AUM Growth
+$213M
(+15%)
Cap. Flow
+$214M
Cap. Flow
% of AUM
12.89%
Top 10 Holdings %
Top 10 Hldgs %
99.2%
Holding
16
New
4
Increased
3
Reduced
3
Closed
3
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
ATIP
ATI Physical Therapy, Inc.
ATIP
|
+$39.6M |
| 2 |
Alight
ALIT
|
+$34.8M |
| 3 |
Alibaba
BABA
|
+$5.19M |
| 4 |
BHR
Braemar Hotels & Resorts
BHR
|
+$2.21M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
WPF
Foley Trasimene Acquisition Corp.
WPF
|
+$32.3M |
| 2 |
Meta Platforms (Facebook)
META
|
+$9.35M |
| 3 |
Amazon
AMZN
|
+$2.48M |
| 4 |
PG&E
PCG
|
+$46.6K |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 7.08% |
| 2 | Utilities | 5.63% |
| 3 | Healthcare | 1.78% |
| 4 | Energy | 0.32% |
| 5 | Consumer Discretionary | 0.25% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$784B
| $858M | 51.74% |
2,000,000
| – | – |
|
2
PUT
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$15.9B
| $409M | 24.65% |
4,675,000
+1,675,000
| +56% | +$147M |
|
|
3
PG&E
PCG
$39.2B
| $93.3M | 5.63% |
9,723,905
-4,941
| -0.1% | -$46.6K |
|
4
Sabre
SABR
$739M
| $79.6M | 4.8% |
6,720,024
| – | – |
|
5
PUT
Avis
CAR
$5.37B
| $58.8M | 3.55% |
505,100
-5,000
| -1% | -$441K |
|
|
6
Alight
ALIT
$481M
| $37.9M | 2.28% |
+165,085
| New | +$34.8M |
|
|
7
PUT
PG&E
PCG
$39.2B
| $33.6M | 2.03% |
3,500,000
+1,000,000
| +40% | +$9.44M |
|
8
CALL
Trip.com Group
TCOM
$29.3B
| $30.8M | 1.85% |
+1,000,000
| New | +$28.8M |
|
|
ATIP
9
DELISTED
ATI Physical Therapy, Inc.
ATIP
| $29.5M | 1.78% |
+155,512
| New | +$39.6M |
|
|
10
CALL
Sabre
SABR
$739M
| $14.8M | 0.89% |
1,250,000
-750,000
| -38% | -$8.5M |
|
11
Genesis Energy
GEL
$1.87B
| $5.27M | 0.32% |
528,222
| – | – |
|
|
12
Alibaba
BABA
$279B
| $4.22M | 0.25% |
+28,500
| New | +$5.19M |
|
|
BHR
13
Braemar Hotels & Resorts
BHR
$160M
| $3.76M | 0.23% |
774,649
+424,081
| +121% | +$2.21M |
|
|
14
Amazon
AMZN
$2.53T
| – | – |
-14,400
| Closed | -$2.48M |
|
|
15
Meta Platforms (Facebook)
META
$1.37T
| – | – |
-26,875
| Closed | -$9.35M |
|
|
WPF
16
DELISTED
Foley Trasimene Acquisition Corp.
WPF
| – | – |
-3,301,707
| Closed | -$32.3M |
|
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Knighthead Capital Management's Q3 2021 Portfolio in Review
As of Q3 2021, Knighthead Capital Management held 16 positions worth $1.66B, up 15% from $1.45B the previous quarter. Its ten largest holdings account for 99% of the portfolio.
Knighthead Capital Management deployed $214M of net new capital in Q3 2021, opening 4 new positions and adding to 3 existing holdings. Its largest new stake was ATI Physical Therapy, Inc.: 155,512 shares worth $29.5M.
By sector, the portfolio is most concentrated in Technology at 7.1% of assets, up from 5.8% a quarter earlier, followed by Utilities and Healthcare.
On the sell side, the largest reduction was PG&E, an estimated $46.6K trimmed.
- Knighthead Capital Management's largest Q3 2021 buy was ATI Physical Therapy, Inc.: 155,512 shares worth $29.5M.
- Knighthead Capital Management added most to Braemar Hotels & Resorts in Q3 2021, an estimated $2.21M increase.
- Knighthead Capital Management's biggest Q3 2021 reduction was PG&E, cutting an estimated $46.6K.
- Knighthead Capital Management fully exited Foley Trasimene Acquisition Corp. in Q3 2021, selling an estimated $32.3M.
- Knighthead Capital Management's ten largest holdings make up 99% of its $1.66B portfolio in Q3 2021.
- Knighthead Capital Management opened 4 new positions and closed 3 in Q3 2021.
- Knighthead Capital Management's portfolio value rose 15% quarter-over-quarter to $1.66B.
Based on Knighthead Capital Management's 13F filing for Q3 2021, filed 15 Nov 2021.